Versions of s. 110.6(29)

I-3.3 — Income Tax Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

2017-01-01 to present available View Source

The penalty in respect of an election to which subsection 110.6(26) or 110.6(27) applies is the amount determined by the formula(A × B)/300 where A is the number of months each of which is a month all or part of which is during the period that begins the day after the election filing date and ends the day the election or amended election is filed with the Minister; and B is the total of all amounts each of which is the taxable capital gain of the elector or a spouse or common-law partner of the elector that results from the application of subsection 110.6(19) to the property or the business in respect of which the election is made less, where subsection 110.6(27) applies to the election, the total of all amounts each of which would, if the Act were read without reference to subsections 110.6(20) and 110.6(27), be the taxable capital gain of the elector or a spouse or common-law partner of the elector that resulted from the application of subsection 110.6(19) to the property or the business.

Full text

The penalty in respect of an election to which subsection 110.6(26) or 110.6(27) applies is the amount determined by the formula(A × B)/300 where A is the number of months each of which is a month all or part of which is during the period that begins the day after the election filing date and ends the day the election or amended election is filed with the Minister; and B is the total of all amounts each of which is the taxable capital gain of the elector or a spouse or common-law partner of the elector that results from the application of subsection 110.6(19) to the property or the business in respect of which the election is made less, where subsection 110.6(27) applies to the election, the total of all amounts each of which would, if the Act were read without reference to subsections 110.6(20) and 110.6(27), be the taxable capital gain of the elector or a spouse or common-law partner of the elector that resulted from the application of subsection 110.6(19) to the property or the business.
2004-08-31 to 2017-01-01 View Source

The penalty in respect of an election to which subsection 110.6(26) or 110.6(27) applies is the amount determined by the formula(A × B)/300 where A is the number of months each of which is a month all or part of which is during the period that begins the day after the election filing date and ends the day the election or amended election is filed with the Minister; and B is the total of all amounts each of which is the taxable capital gain of the elector or a spouse or common-law partner of the elector that results from the application of subsection 110.6(19) to the property or the business in respect of which the election is made less, where subsection 110.6(27) applies to the election, the total of all amounts each of which would, if the Act were read without reference to subsections 110.6(20) and 110.6(27), be the taxable capital gain of the elector or a spouse or common-law partner of the elector that resulted from the application of subsection 110.6(19) to the property or the business.